The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-01-15

THE BUSINESS OUTLOOK.
A Week Devoid of Startling Events, but Fur.
nishing Evidence of Large Transactions.

New YORK, Jan. ID The following is r. G..
Dun & Co.'S weekly review of trade: The pc
culiar scarcity of fresh and striking events dur
ing the past week is not a bad sign. Pro-
duction and distribution have gone on SO quietly
not at all appreciated, nor is atten-
tion fixed by startling changes for
better or worse But evidence abounds
Of the unusual volume of business;
bank exchanges throughout the country and
traffic returns bear testimony as to distribution,
while agricultural and manufacturing statistics
show that production has hardly ever been
greater West bound rail shipments in Decem-
ber were never equaled, except in 1881. The
final crop report of the Agricultural Bureau,
showing yield last year of 475, 000, 900 bushels
wheat, ,665. .000. 900 bushels corn, and 624, ,000,
600 bushels oats, states that the farmers, while
getting more for their corn and oats than in
1885, averaged only 69 7c for wheat against ~ 1c
in 1885; but the low price WAS due to the enor-
nous surplus caused by speculative control of
markets.
barometer. was 124. 859 tons weekly. Jan. 1,
against III. .36l Dec. l. having increased 81. per
cent during the year. In spite of an output, ex-
ceding 3 015, 900 tons in elk MONTHS prices have
risen until $21 is demanded for No. l anthracite,
$39 is quoted for steel rails at mills, aud West
ern nail makers on Wednesday raised their
prices from 81 40 to S.. GO Meanwhile. the Ger
man production of iron WAS "a per cent less in
October, 1885, than in 1855. and for ten months
of the year l24 per cent. less. Coke production
is increasing. and ! 900 new ovens are to be
added in the Mt Pleasant district, Pennsylvania.
The grain markets have changed character.
Europe bought beavily for some mop$hsy virtsl-
ally controlling the market in spite Of specula-
tors. Since New Years foreigners are selling,
in the belief that prices will go lower, and on
| last Tuesday Chicago helped to break down the
~ R,ta ,hcon pf
suspicion that large spectators are buying and
| the markets are now in speculative hands. Corn
| and oats closed shade lower; oil half cent
| lower; cotton a sixteenth lower; pork 25c lower
| and lard an eighth lower than week ago The
| cattle market is also depressed, and British
| prices of American beef are lower.
Coffee floats upward easily at present having
gained three-eighshs for the week. but tho
| spectators have work ahead when supplies come
| forward largely.
| Silver advanced nearly half penny in Lon
! don.
| The dry goods market is steady as to prices
and fairly active for the season, though wait
| Ing policy prevails as to woolens
Money is abundant and cheap, heavy disburse-
| ments of corporate and firm profits being slowly
| absorbed by investment Foreign exchange has
may be exported. Bankers begin to
remark that part of the amount
recently imported could be we'll spared.
| Foreign sales Of securities here appear to have
| balanced accounts for the moment, but the scale
does not yet turn so far that gold goes out.
| Exports continue large, though Of wheat smaller
of late. In December the value of breadstuffs
exported 900, against $40. 00G, 600 in
| 1885. and for six months. STE. 200, 600, against
| $52, 900, 600 in 1885. The Treasury took in
nearly So 900 900 gold. half million silver, and
as much of legal tenders during the past week.
But the receipts of silver at the custom house
here have risen above 20 per cent. Of all
receipts.
| The business failures, during the last seven
| days, number, for the United States, 294; for
| Canada 90; total. 323, against 299 last week and
| 273 the week previous This is the largest num-
| ber reported in any week since January 1886,
| but not larger than is expected at this season.
In the corresponding week of last year there
| were 332 The Southern States furnished 1O7
this week, about double the average from tina,
| quarter.